Finance

REVISED / Income tax reductions effective Jan. 1, 2010 (09/12/22)

NB 2036

Dec. 22, 2009

FREDERICTON (CNB) - Another part of the Plan for Lower Taxes comes into effect on Jan. 1,, 2010, when New Brunswick's tax brackets and non-refundable amounts for personal income tax will be indexed by two per cent.

"Combined with lower personal income tax rates, New Brunswick individuals and families will experience significant personal income tax savings for the 2010 taxation year compared to 2008, due to our lower tax plan," said Finance Minister Greg Byrne.

For the 2010 taxation year:

Byrne said that New Brunswick's four-year Plan for Lower Taxes will deliver $258 million in tax savings in 2010-11, and annual savings will increase to $380 million in year four, and every year thereafter.

More information and updates on the Plan for Lower Taxes may be found online.

09/12/22

MEDIA CONTACT: Marc Belliveau, communications, Department of Finance, 506-453-4138.

09/12/22